1. Deputy Minister for Economic Affairs Lee Seong-ho attended the APEC Concluding Senior Officials’ Meeting (CSOM) held on November 13 in a virtual format, and reviewed the achievements made over the past year and discussed the way forward in preparation for the 2020 APEC Economic Leaders' Meeting and Ministerial Meeting.

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2. At the CSOM, the member Economies noted with appreciation that, despite the difficulties due to COVID-19, APEC has maintained the base of regional cooperation on its normal activities as well as on response to COVID-19 through virtual meetings; reviewed the progress in the preparation for the Economic Leaders' Meeting and Ministerial Meeting as well as drafting the key deliverables; and listened to the briefings on the activities carried out in 2020 by the committees and sub-fora related to trade and investment, economic and technical cooperation, and the Internet and digital economy, and approved their projects for 2021.

° In particular, the member Economies tentatively agreed on the final text of the APEC Post-2020 Vision, which will set the direction for APEC’s activity for the next 20 years from 2021 through 2040, and agreed to adopt it as the key deliverable of the Economic Leaders' Meeting.

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3. Deputy Minister Lee welcomed APEC’s plans on implementing and working on the key roadmaps drawn up this year, mentioning that they will carry out concrete projects which will contribute to the implementation of those roadmaps.

° The Deputy Minister also highlighted the importance of the “APEC Post-2020 Vision” and the Leaders’ Declaration in maintaining the momentum of the APEC activities and called on the member Economies to exercise flexibility in the spirit of friendship and cooperation.

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° The Deputy Minister also noted that the Economic Leaders’ Meeting this year will serve as a significant opportunity to inform the Economies and public in the Asia-Pacific region of APEC’s efforts and achievements for regional economic development as well as its plan to prepare for the post-COVID-19 era.

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4. The CSOM is seen to have served an opportunity to maintain the continuity of APEC’s activities and strengthen the momentum of cooperation by reaffirming the commitment to cooperation toward the success of the APEC Economic Leaders’ Meeting and Ministerial Meeting amid the prolonged COVID-19 situation and by exchanging constructive views on APEC’s way forward based on its previous achievements.